🚨Trump’s KARMA Just Hit ALL AT ONCE…

When it rains, it pours, and when there. is a storm, it is a perfect storm from. the Trump regime, and that's what. happens when your economic policy is. basically a massive Ponzi scheme. covering up one idiotic decision and. perhaps fraudulent decision with. another. I mean, as you take a look. approaching this weekend at some of the. data where you have WTI crude up to. $91.85, Brent crude hitting close to $105.

a barrel. You take a look at the average. price of gas we're paying here, $4.37. That's what the average is, but I'm sure. where you are, it's far more expensive. than that. The nationwide diesel average. is $6.27. a gallon. You look at the bond market. not doing all that great. The US 10-year. Treasury yield risk, there's a real risk. that I mean, right now it's hovering in. this 5.2% range. The 30-year's much.

higher, and the 20-year's higher, but. there's a risk that we could be at a 6%. for the first time since 2000, and. that's not fear mongering. I mean, that's very possible. And then with all. of this going on, we're talking about. oil and gas closures all throughout the. Gulf of Mexico because of the hurricane. that's hitting. Over a third of oil. platforms have been evacuated. 72% of. oil and 59% of natural gas production.

has been shut down in the Gulf of. Mexico. And look, this is something that. the overall system could withstand on. its own, but when you start to add up. the various layers of this kind of Trump. regime Russian nesting doll of economic. deceit and trying to cover up one issue. with the next, you have a massive problem on our hands. The oil isn't coming out of the Strait. of Hormuz the way it did before the war. started. You know, and so the Trump.

regime will do another video on this is. left to try to come up with some, you. know, in my view horrific and traitorous. deal with Russia for Russian diesel, which to me violates so many laws here, doesn't actually material make a. difference, and, you know, screws with. broader international relations is an. understatement, while all these economic. crises are brewing and they've. percolated. And so, you know, when. things are going really bad, and they. often are, the Trump regime rolls out.

Peter Navarro, one of their top national. economic advisers, basically to just. start yelling at the press, you know, and normally, again, at the highest. level of economic policy, you want. people with steady, stable hands and. behavior, but this was Navarro's press. conference yesterday, shutting down a. CBS question on a pretty basic area. He. just didn't want to talk about it. He. wanted his propaganda points out there,

no questions. Watch what went down. Play. this clip. >> plans. >> Oh, oh, we're pivoting that way, yes. >> No, sorry. I'm wondering about. manufacturers that rely on. diesel-powered machinery. >> this man right in front of me is the. worst person. It's like, folks, you've. got to learn, okay? There's a lot of. stories in the world. You can't just be. You're You're a young person. Don't be a. sock puppet for your liberal producers. and work as an agent to interfere with. this election with crap like that, okay? All right. This man. >> Yes, Alana audio. >> They're like a sound stage. Like, what.

kind of janky production is like There's. like three people there, and he's. yelling at one of the three people that. are there for our audio listeners. So, then he goes and does a presser outside. of the White House, where his whole. point is just to attacks to attacks Fox, which I call state regime media. Here, play this clip. >> That it's it's unfortunate. that uh. the much of the media is not covering. this. Today across the street.

I held. essentially a press briefing. that had much more numbers and things. like that. It did much more folks in. that that you could participate in. But Fox boycotted it. We didn't have CNN. there, MSNBC, or any of that stuff. Didn't have CNBC, Bloomberg. And this is the White House. It's like. their responsibility. to cover stories like this.

But. uh. particularly going into election and. particularly with their anti-Trump. thought process, they're doing. everything basically to convince you not. to vote Republican. and to turn the House and the Senate. back back into the irresponsible hands. of the Democrats. And this got to stop. I mean, and Fox News in particular has. got to quit screwing around. >> All these numbers and things, the.

numbers and things. And then here he is. on a hot mic. You can hear what he's. saying. Here, play this clip. >> So, this the pool camera. turn on the camera. So, the press team I I just want to. >> Here's some live coverage here. >> I want to bring in Justin Werfel, our. chief economist at the Midas Touch. Network. Also the founder of Platypus. Economics. Go subscribe to the Platypus.

YouTube channel. Justin, these are the. people that behavior right there. This. da da da da da da, you know, these are the people who are running. economic policy in the United States. into the ground. And you know, these. issues, these emergencies that are. happening. I mean, this stuff is a lot. of it self-made, but a lot of these. things are predictable. I mean, that. there would be a hurricane season and. things could happen and you want to. protect against this. And now they're. just out there flailing. What what what. what do you What do you think about all.

of this? >> Mate, this actually I just want to get. stuck on a little bit of an irony here. Just think about the history of American. politics. Traditionally, the party of. the right, the Republican Party, was was. pro free market. They were resistant to. the idea of government control. Um they thought that market forces, laissez-faire, would deliver useful. outcomes. The party of the left in the. US historically, the Democratic Party, was more comfortable with the use of. government. But what you had just there. was a senior Republican advisor, Peter.

Navarro, who really wants to see. the government controlling enormous. parts of our lives. Uh he was berating. the press because the press wasn't. covering what the government wanted it. to do. And Peter Navarro is right. If he. were running Pravda. in the former Soviet Union, the press. would have done exactly what he said. And the fact that uh Fox News shows just. a skerrick of independence is a little. bit too much. Um rather than have a. private sector of a vibrant private.

sector media market, and you're a. private sector media entrepreneur, uh he wants the young the you saw him. berate the young journalist. He wants. the the state. to tell. journalists how to do their jobs. Normally, I think these sorts of issues. would be discussed by my friends in. political science or media theorists and. the like, but I do think that you do. just want to think about this a little. bit through an economic lens. This is a. command and control impulse. This is a.

bloke, Peter Navarro, who thinks that the White House should. determine which industries prosper. When. the White House is picking winners, that. means it's also picking losers. So, he. wants to bet everything on. manufacturing. It's been a failure. Manufacturing hasn't grown for decades, still isn't growing. It's the rest of. the economy that's growing and. particularly the service sector, the. pink color economy, and so on. And so, we may have our last central. planning czar here um in in Peter.

Navarro. And it's not just Navarro. This idea that the government, the White. House, not even the government, they've. bypassed Congress, but that the White. House knows best and the White House. will run This was a clip about the. media, but also the White House will. decide what countries you get to trade. with, which country which companies. uh should be owned by the government, which shouldn't, and so on. This. interventionist urge, it uh it's the. most interventionist government of my. lifetime and the exact opposite for.

certainly what I was raised to. understand Republicans stood for. >> In the most exaggerated, farcical, but also tragically consequential on our. lives, this is. demonstrative of some of the problems. with command and control types of. economies, especially in the hands of. people who are authoritarians. and people who are malignant. narcissists, who also want to entrench their own.

wealth and the wealth of a select few. oligarchs at the expense of everybody. else. And you know, it'll all be kind of. contradictory stuff. I mean, on the one. hand, they'll say, "We're going to put. tariffs on India and any country that. dares buy Russian oil." And that was. their pretext or one of the pretext for. tariffs against certain countries. And. then it's like, "We're going to buy oil. or diesel from Russia." And then.

everyone's like, "Yeah, that's directly. inconsistent with everything though that. you've been saying, you know, before. And I could give you so many other. examples of that, but they step on. themselves over and over again. And it's. this whack-a-mole, I call it a Ponzi. scheme that they've created. And and, you know, going back to liberation day. and liquidation day to the present, this is all mounted. And that's my. biggest fear is.

the future, too. I mean, it's right now. people are hurt, but all this stuff is. piling up on top of each other, each. fraud over the next fraud. So, how do. you How do we deal with that? >> Yeah, so, you know, we started at some. level talking about economical political. ideologies, worldviews, and. perspectives, but I actually think. what's going on in the current moment. comes down to something far simpler. And. it's far simpler, which. is simply this is a crisis of competence.

in the White House. Peter Navarro, who. you began with, is absolutely a. third-rate economist. He wasn't He was a. nobody before this administration began. I'm a. economics professor, never come across. any of his work. And the the story goes. that um. Jared Kushner, the president's. son-in-law, was looking on Amazon for. someone who would defend the president's. views, and he found, you know, exactly one book written by. exactly one lunatic. to that would defend the president's.

absurd views about international trade. And so, they brought that bloke in as an. adviser, and he is the walking toxic. masculinity that you just showed a. little earlier. Um. you know, it's an interesting thing. You. look back at past White Houses and the. people who've staffed them, and. it's actually been remarkable. The. American people have been incredibly. fortunate over the past 50 or 60 years. that we've had literally, you know, a large number of Nobel. laureates serve in different. administrations. And I'm not talking. about left or right. I'm just saying,

when you're the president of the United. States, you can basically call anyone in. the country and say your country needs. you, come and serve. And as a result, they're typically choosing from the best. dozen or two or three dozen economists. in the country. None of those economists are working for. this White House. And so you see it in. the bumbling on liberation day. You see. it in the small stuff. My favorite part. of liberation day. was when they put tariffs on the Heard. and McDonald Islands, a small rocky. outcrop outside of Australia, literally. inhabited only by penguins and seals.

Um rather than admit a mistake, they. came out and defended that and said it. was actually incredibly important that. Australia not start doing transshipment. via its penguins, forgetting that it's very difficult. because those penguins don't even have a. port. Um it's not just about that the. president's recent policy announcements. about how he's going to get more diesel. into the economy into the economy, how. he's going to get more oil into the. economy. Most of these have been. self-defeating on their face. In any normal administration, the staff.

would have looked the the chief in the. eye and said, "Look, boss, that won't. work. That's dumb.". These guys, I don't think they're doing. any analysis whatsoever. You see it time. and time again. And they're not. delivering frank, fearless, or useful. advice to the president. You know, and whoever knows whether he'd. take that. >> Yeah, and I want to throw it to you for. the concluding words, but what is you. say right over there, I don't even think they're doing. analysis. You know, you mean you kind of pointed.

out like is Biden doing like. testosterone injections and is he trying. to, you know, be this like performative, you know, Halloween character of what he. thinks, you know, that position supposed. to be? And is, you know, the the power. of the White House is, you know, or is. it just their maliciousness that's. driving this? But it's like some of the. dumbest stuff. Like yes, it's evil, but. it's also some of the dumbest stuff. It's like do they even know what a. Treasury yield is? I mean, do they.

understand the way the bond market. works? Do they understand that crude has. to be refined in the process of where. diesel is made and just how these. pipelines work? Because I'll tell you. our allies or former allies are staffed. with some of the best and brightest. people. Our adversaries are staffed by. PhDs. and you know, and underestimate them at. your own peril. But they staff up with.

some of the smartest, most sophisticated. people in their country and it seems. that we're staffed up by dystopian. reality show characters that frankly. look like an episode at the boardroom of. The Apprentice and it's it's it's just. dumb. It's just some dumb stuff that. keeps on. resulting in failure after failure and. it just rips apart the credibility and. the full faith and credit. in the United States. Give me the final.

word. >> Yeah, no. I think you're absolutely. right. You're. >> [snorts]. >> a little less polite or maybe I'm a. little too polite. I call it a crisis of. competence. You call it dumb. Let me. just say that we agree. Um the statement that I want the. audience to understand is as a. professional economist, I can run my eye. over the people running economic policy. and I can tell you they're no what. they're no one's dream team. It's the least qualified economic team. of my lifetime and it's not even close. But you also don't need that form of. analysis. You can actually look at what.

they do. Um I remember when there was a. so-called British trade deal. By the. way, no deal been is there is no deal. Uh was published on the White House. website. It was called something like. British trade deal revised revised. underscore final underscore this time we. mean it and had the date. And the date. was either, you know, 10 minutes before. the press conference or maybe it was the. night before. Like, it just shows that. they're not doing their work. Um the the. president signed an executive order the. other day in which he was described as. the president of the Untied States.

Um the spelling error. Now, look, I'm. not going to get get after anyone about. a spelling error, but what I am going to. do is be informed about what that tells. me about how hard they're working. I don't know about you, mate, but my. computer even spell checks my email. So, I dash off a short missive to a friend. unless I'm thumb typing and there's no. spello's in it. All I'm doing is saying. meet me for lunch next Thursday. These. guys are trying to set global economic. policy. Frankly, you and me and our. audience deserve a little more effort.

than they're putting in. >> Everybody, make sure you subscribe to. Justin Wolfers YouTube channel. It's. called Platypus Economics. After this. video ends, search Platypus Economics, subscribe, watch some of Justin's. videos, tell them I say hello, and also. honor here at the Midas Touch Network to. have Justin also as the Midas Touch. chief economist. Thanks, Justin. >> Pleasure. >> Before you go, our book WTF America is. available for pre-order now. It's the. story of how we got here and how we. fight our way back. To pre-order, scan.

the QR code or click the link in the. description. Let's do this. >> [music]. [music].